Brocton, New York Property Taxes
The median property tax rate in Brocton, NY is 3.53%, considerably higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Brocton, the typical annual property tax bill reaches $3,417, exceeding the national median of $2,690. Property taxes in Brocton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Brocton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Brocton or another part of Chautauqua County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brocton, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.53%
Estimate Property Tax Bill
$3,530
$3,490
Ownwell’s Brocton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brocton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brocton to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Brocton, New York
Property taxes in Brocton, New York, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brocton is 3.53%, significantly higher than both the New York state median and the U.S. national median of 0.99%. Local government entities within Brocton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brocton estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Brocton's effective property tax rate to other counties in New York and the national median. For comparison, the zip code 14716 has both the highest and lowest median property tax rate of 3.53%. Understanding how these cities compare with Brocton provides valuable insights into the varying tax landscape across Chautauqua County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brocton Tax Rate
3.53%
Average Chautauqua County Tax Rate
2.90%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brocton, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14716 | 3.12% | 3.13% | 3.53% | 3.54% | 3.54% |
Source: Ownwell
Property Tax Assessment Values Across Brocton, New York
In Brocton, New York, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Chautauqua County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Brocton, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Brocton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $3,417 in the zip code 14716, which is also the lowest median tax bill in the area.
Average Brocton Assessed Value
$100,000
Average Chautauqua County Assessed Value
$91,916
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brocton, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14716 | $44,400 | $77,800 | $100,000 | $132,200 | $172,310 |
Source: Ownwell
Property Tax Bills Across Brocton, New York
In Brocton, located in Chautauqua County, NY, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Brocton is $100,000. Homeowners in the 25th percentile can expect a tax bill of approximately $2,514, while those in the 75th percentile might see a bill closer to $4,452. The tax bill can reach up to $5,638 for those in the 90th percentile. Several factors influence the tax bill, including property size, location, and any applicable exemptions or abatements. Compared to the national median property tax rate of 0.99%, Brocton's rates can be considered relatively high, affecting homeowners by increasing the cost of owning property. This can impact decisions on home purchases and long-term financial planning, making it crucial for homeowners to understand how their tax bills are determined.
Average Brocton Tax Bill
$3,417
Average Chautauqua County Tax Bill
$2,807
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Brocton, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 14716 | $1,389 | $2,514 | $3,417 | $4,452 | $5,638 |
Source: Ownwell
Don't miss the deadline to file a grievance!
Dates |
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Links | |
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| Chautauqua Assessment Review Commission | |
| Website | chautauquacounty.maps.arcgis.com |